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Kotak Mahindra Bank Q1 Results Live: Slippages came from tractor finance, retail unsecured loans, says CFO Jaimin Bhatt
Kotak Mahindra Bank’s Chief Financial Officer Jaimin Bhatt on July 22 said the bank witnessed slippages from segments such as tractor finance and unsecured retail loans in the first quarter of the current financial year.
“Slippages came from tractor finance and retail unsecured loan,” Bhatt said.
In the April-June quarter, the bank reported slippages of Rs 1,205 crore, which is 0.4 percent of the net advances. Of this, Rs 288 crore was upgraded within Q1FY24.
Kotak Mahindra Bank Q1 Results Live: Expect margins to normalise over a period of time, says bank management
“Our balance sheet size is now at over Rs 5 lakh crore. Slippages of Rs 1,205 crore a tad higher than we usually see; these were from the retail & tractor portfolios. Expect margins to normalise over a period of time,” says Kotak Mahindra Bank management after Q1FY24 results
ICICI Bank Q1 Results Live: Average current account deposits increase 9.2% YoY
“Our average current account deposits increased by 9.2% YoY. Savings account deposits increased by 5.6% YoY. Saw 2,30,000 registrations by non-ICICI Bank account holders on instabiz till June 30,” says ICICI Bank management.
ICICI Bank Q1 Results Live: Expect FY24 NIM levels to be in line with FY23, bank management say
Expect FY24 NIM levels to be broadly in line with what we saw in FY23. Our NIMs averaged around 4.50% for FY23, and we expect to maintain that this year. Expect the deposit repricing pressure to go away in a quarter or so, says ICICI Bank management after reporting Q1FY24 results
ICICI Bank Q1 Results Live: ICICI Bank writes off Rs 1,169 crore gross NPAs in Q1
ICICI Bank, which reported a 40 percent jump in profit on July 22, wrote off loans worth Rs 1,169 crore in the April-June quarter of the current financial year against Rs 1,158 crore in the year-ago period, the private lender said in its earnings report.
The bank's management said the write-offs were routine. “The write-offs in this quarter is routine and is line with our policy. We had write-offs of Rs 1,158 crores in Q1 of FY23,” said Sandeep Batra, Executive Director, ICICI Bank, during an interaction with media after the result announcement.
Kotak Mahindra Bank Q1 Results Live: Bank's investment in government bonds rises 53.3% in Q1
-- Kotak Mahindra Bank’s investment in government securities rose to Rs 94,038 crore in April-June from Rs 61,349 crore in the year-ago period.
-- In the previous quarter, it stood at Rs 89,853 crore.
-- The total investment in April-June rose around 39 percent on-year to Rs 1.24 lakh crore from Rs 89,183 crore in the year-ago period.
AU Small Finance Bank Q1 Results LIVE: AU SFB reports 44% rise in net profit to Rs 387 crore
Jaipur-based AU Small Finance Bank on July 22 reported a 44 percent year-on-year (YoY) rise in net profit to Rs 387 crore in the first quarter of the current financial year, up from Rs 268 crore in the year-ago period.
The bank's asset quality saw a little improvement for the quarter. The lender's gross non-performing assets (GNPAs) stood at 1.76 percent compared with 1.96 percent in the corresponding quarter of the previous fiscal.
The net non-performing assets (NNPA) for the quarter stood at 0.55 percent compared with 0.56 percent in the year-ago quarter.
Kotak Mahindra Bank Q1 Results Live: Five highlights of Kotak Mahindra Bank Q1 FY24 earnings
Strong net profit: The private lender reported a 50.62 percent year-on-year (YoY) rise in its consolidated profit at Rs 4,150.19 crore in the April-June quarter.
Net interest income: Kotak Mahindra Bank, in the reporting quarter, registered 32.72 percent growth in NII to Rs 6,234 crore.
Asset quality: The asset quality of the bank improved in the April-June quarter, with the GNPA ratio falling to 1.77 percent from 1.78 percent in the quarter-ago period, and 2.24 percent in the year-ago period.
Unsecured retail loans: Kotak Mahindra Bank recorded an increase in unsecured retail loans during the April-June quarter compared to the year-ago period, with credit card outstandings and microfinance loans surging aggressively.
Deposit: Average current deposits grew 8 percent to Rs 59,431 crore from Rs 55,081 crore in Q1 FY23. But there was a drop in average savings deposits to Rs 1.2 lakh crore from Rs 1.22 lakh crore in the year-ago period.
AU Small Finance Bank Q1 Results LIVE: AU SFB net profit at Rs 386.9 crore
AU SFB reports Q1 FY earnings; net profit at Rs 386.9 crore,NII at Rs 1,246.2 crore.
ICICI Bank Q1 Results LIVE:
Gross NPA at Rs 31,822.4 crore vs Rs 31,183 crore (QoQ); Net NPA flat at 0.48% (QoQ).
ICICI Bank Q1 Results LIVE: ICICI Bank reports Net Interest Margin at 4.78% vs 4.90% (QoQ) & vs 4.01% (YoY)
-- ICICI Bank reports Net Interest Margin (NIM) at 4.78% vs 4.90% (QoQ) & vs 4.01% (YoY)
-- Loan growth at 21.9% YoY & 4.5% QoQ
-- Provision coverage ratio at 82.4% vs 82.8% QoQ
-- Treasury gain at Rs 38 crore vs Rs 36 crore YoY
-- Recoveries and upgrades ex-writeoffs at Rs 3511 crore vs Rs 4283 crore QoQ
ICICI Bank Q1 Results LIVE: Net profit up 40% from year-ago period
Private sector lender ICICI Bank on July 22 reported a net profit of Rs 9,648 crore for the first quarter of the current financial year, up 40 percent from the year-ago period and way ahead of market expectations of Rs 8,982 crore.
ICICI Bank Q1 Results LIVE:
Analysts at Prabhudas Lilladher expected ICICI Bank's provisions to rise 17.3 percent on quarter and 66 percent on year to Rs 1,900 crore. Whereas Kotak Institutional Equities pegged the same at Rs 1,700.8 crore, up five percent QoQ (from Rs 1,619.8 crore) and 49 percent YoY (from Rs 1,143.8 crore).
ICICI Bank Q1 Results LIVE: Net profit at Rs 9648 crore
ICICI Bank reports Q1 results with net profit at Rs 9648 crore. Poll of three brokerages conducted by Moneycontrol estimated the bank's net profit to rise to Rs 8,982 crore YoY (down 5.1 percent quarter on quarter).
Yes Bank Q1 Results LIVE: Targeting recovery of Rs 5,000 crore plus for full year, says Prashant Kumar
Targeting a recovery of Rs 5,000 crore plus for the full year. Do not see repricing pressure on the liabilities book after Q2 this year. Seeing an issue w.r.t. pricing, there is some mismatch & we do not want to compromise, adds Prashant Kumar of YES Bank.
Yes Bank Q1 Results LIVE: Expect advances momentum to continue: Prashant Kumar
Expect advances momentum to continue going forward. Want to target 15-20% loan growth overall for the year. Would continue to grow between 25-30% in retail, SME, and mid-market segments, says Prashant Kumar of Yes Bank
Yes Bank Q1 Results LIVE: Provisions and P&L
Provision costs for Q1FY24 up 70.4% YoY but declined 30.7% QoQ.
Resolution momentum continues to be strong with Total Recoveries & Upgrades for Q1FY24 at Rs 1,201 crore.
Gross Slippages for Q1FY24 at Rs 1,430 crore v/s. Rs 1,072 crore in Q1FY23 and Rs 1,196 crore in Q4FY23.
(Investor Presentation)
Yes Bank Q1 Results LIVE: Digital & Other Highlights/ Achievements
Added 20 new branches during Q1FY24; branch count now at 1,212 v/s. 1,140 in Q1FY23 and 1,192 in Q4FY23.
Pursuant to signing of MoUs between RBI and Central Bank of the UAE to promote use of local currencies for cross-border transactions, YES BANK became the first Bank in India to undertake the INR settlement for bullion imports from UAE.
Launched YES PAY EASY – a mobile app for merchants in partnership with Mastercard and Worldline India
Yes Bank Q1 Results LIVE: Asset Quality
(NNPA + net carrying value of SR) as % of Advances at 2.4% in Q1FY24 v/s. 4.5% in
Q1FY23 and 2.4% in Q4FY23
GNPA ratio at 2.0% vs. 13.4% in Q1FY23 and 2.2% in Q4FY23
NNPA ratio at 1.0% vs. 4.2% in Q1FY23 and 0.8% in Q4FY23
Gross Slippages for Q1FY24 at Rs 1,430 Crs v/s. Rs 1,072 Crs in Q1FY23 and Rs 1,196 Crs in Q4FY23
Slippages Net of Recoveries and Upgrades, at Rs 764 Crs which is similar to last quarter (Rs 740 Crs)
Retail Net Slippages at Rs 350 Crs v/s. Rs 433 Crs last quarter
Yes Bank Q1 Results LIVE: Financial Highlights
Q1FY24 NII at Rs 2,000 Crs up 8.1% Y-o-Y
NIM for Q1FY24 at 2.5% up nearly 10 bps Y-o-Y
Q1FY24 Non-Interest Income at Rs 1,141 Crs, up 54.0% Y-o-Y and 13.7% Q-o-Q
Q1FY24 Operating Expenses at Rs 2,322 Crs, up 16.0% Y-o-Y and 4.6% Q-o-Q
Operating profit for Q1FY24 stands at Rs 818 Crs, up 38.8% Y-o-Y
Q1FY24 Provision costs at Rs 360 Crs up 106.2% Y-o-Y but down 41.7% Q-o-Q.
Q1FY24 Net Profit at Rs 343 Crs, up 10.3% Y-o-Y, and 69.2% Q-o-Q
Yes Bank Q1 Results LIVE: Improving Asset Quality
GNPA ratio at 2.0% vs 13.4% in Q1FY23 and 2.2% last quarter
(NNPA + Net Carrying Value of SR) the ratio at 2.4% Q1FY24 flat Q-o-Q
Resolution Momentum continues to be strong with Total Recoveries & Upgrades for Q1FY24 at Rs 1,201 crore
Kotak Bank Q1 Results LIVE: Digital Highlights (Payments)
1.9x YoY UPI in-app transactions
1.7x YoY Pay Your Contact transactions
1.5x YoY UPI acquiring volume
(Investor Presentation)
Kotak Bank Q1 Results LIVE: Digital Highlights (Lending)
95% of new personal loans sold by volume
96% of new credit cards sold (count)
77% of new business loans disbursed by volume
(Investor Presentation)
Yes Bank Q1 Results LIVE: Net profit jumps to Rs 324 crore, NPAs fall
Private sector lender Yes Bank on July 22 reported a net profit of Rs 324 crore in the first quarter of the current financial year, up from Rs 310 crore in the year-ago period.
The asset quality saw a healthy improvement. The bank's gross non-performing assets (GNPAs) stood at 2 percent compared with 13.4 percent in the corresponding quarter of the previous fiscal. The net non-performing assets (NNPA) stood at 1 percent compared with 4.2 percent in the year-ago quarter.
Kotak Bank Q1 Results LIVE: Consolidated Highlights Q1FY24 (Vs Q1FY23)
PAT at Rs 4,150 cr Vs Rs 2,755 cr
ROA at 2.63% Vs 2.04%
ROE at 14.62% 11.22%
Customer Assets (Basel III) at Rs 405,775 cr Vs Rs 339,606 cr
Book Value/Share at Rs 584 Vs Rs 502
(Investor Presentation)
Kotak Bank Q1 Results LIVE: Total provisions held at Rs 6,516 crore, says Kotak
Recoveries and upgrades during the quarter: Rs 692 cr
Credit cost on net advances (incl. standard provision excluding reversal of COVID & restructuring) is 54 bps annualised for Q1FY24
No sale of any loans during the period
Standard Restructured FB o/s under various frameworks: COVID: Rs 230 cr; MSME: Rs 384 cr [0.19% of Net Advances]
Total provisions held: Rs 6,516 cr
COVID-19 provision of Rs 337 cr (Rs 50 cr reversed in Q1FY24)
Restructuring provision of Rs 154 cr, maintaining higher than regulatory requirement
(Investor Presentation)
Kotak Bank Q1 Results LIVE: Asset quality improves
On the asset quality front, the lender saw an improvement in the first quarter, with gross non-performing assets (NPA) declining to 1.75 percent from 2.27 percent in the year-ago period.
Net NPA fell to 0.43 percent against 0.41 percent in the previous quarter and 0.69 percent in a year-ago period.
Kotak Bank Q1 Results LIVE: Consolidated net profit up 50.62% at Rs 4,150.19 crore
Kotak Mahindra Bank on July 22 reported a 50.62 percent year-on-year rise in its consolidated profit at Rs 4,150.19 crore for the first quarter of the current financial year.
On a standalone basis, net profit rose 66.7 percent on-year to Rs 3,452.30 crore, beating analysts' expectations of a 53 percent growth at Rs 3,182 crore.
RBL Bank Q1 Results LIVE: NII comes in at Rs Rs 1,246 crore
RBL Bank's Q1 net interest income comes in at Rs 1,246 crore; gross NPA in percentage terms at 3.22 percent against 3.37 percent on a sequential basis. Net NPA for Q1 stands at 1 percent against 1.10 percent Q-o-Q.
RBL Bank Q1 Results LIVE: Net profit at Rs 288 crore; asset quality improves marginally
Private sector lender RBL Bank on July 22 reported standalone net profit of Rs 288 crores for the first quarter of the current financial year, up from Rs 201 crores from the year-ago period, beating expectations.
Kotak Bank Q1 Results LIVE: Read the preview in detail
The private sector lender is likely to post a net profit of Rs 3,182 crore, representing a 53 percent jump YoY, as per analysts. Read the preview
Kotak Bank Q1 Results LIVE: Motilal Oswal Securities on NPA
Motilal Oswal forecasts a decline of 10 basis points in the gross non-performing asset (NPA) ratio to approximately 1.7 percent. This improvement, if realized, could boost confidence in the bank's risk management and loan portfolio quality.
Kotak Bank Q1 Results LIVE: Motilal Oswal Securities estimations
According to Motilal Oswal Securities, the bank is expected to witness healthy loan growth, with an estimated 18.2 percent year-on-year (YoY) increase and a 3.5 percent quarter-on-quarter (QoQ) growth. Similarly, deposit growth is projected to remain healthy, with Motilal Oswal estimating an 18.7 percent YoY increase and a 3.4 percent sequential growth.
(From CNBC-TV18)
Kotak Bank Q1 Results LIVE: What's driving the banking sector performace?
Analysts say healthy credit off-take momentum, healthy treasury operations and relatively muted credit cost are expected to drive healthy performance of banks across segments in 1Q FY24.
Kotak Bank Q1 Results LIVE: KRChoksey estimates
According to KRChoksey estimates, Kotak Mahindra Bank is likely to report net profit of Rs. 2,961.6 crore down 15.3% year-on-year (up 43% quarter-on-quarter).
Net Interest Income (NII) is expected to increase by 1.6 percent Y-o-Y (up 32 percent Q-o-Q) to Rs. 6,201.3 crore. Pre Provision Operating Profit (PPOP) will likely fall by 9.1% Y-o-Y (up 51.8 percent Q-o-Q) to Rs. 4,224.2 crore.
Kotak Bank Q1 Results LIVE: Prabhudas Lilladher estimates
According to Prabhudas Lilladher estimates, Kotak Mahindra Bank is expected to report a net profit of Rs 3,120.5 crore up 50.7% year-on-year (down 10.7% quarter-on-quarter). Net Interest Income (NII) is expected to increase by 27 percent Y-o-Y (up 2.2 percent Q-o-Q) to Rs. 5,965.8 crore.
Kotak Bank Q1 Results LIVE: Stock performance
Kotak Mahindra Bank shares ended 0.56 percent up at Rs 1,968.35 on July 21 despite an across-the-board sell-off in the market. The shares are up nearly 8 percent on YTD basis.
Kotak Bank Q1 Results LIVE: What do analysts expect?
Nuvama Institutional Equities says, “We expect Kotak's NIM to decline 12 bps QoQ, lower than the decline for ICICI Bank because of improving loan mix. However, from Q2, Kotak's NIM decline could accelerate due to the newly launched sweep deposit scheme.”
“Based on RBI data up to May 2023, loan growth has been driven by unsecured loans including credit cards, and trade while growth in NBFCs and housing has moderated,” it added.
Kotak Bank Q1 Results LIVE: What do analysts expect?
Brokerage firm Ashika says, “PAT is expected to grow…led by healthy advances growth across most segments and re-pricing of asset book. The growth is also expected to be driven by unsecured segment with very strong growth in personal loans and credit card segment." “With the utilization of provisioning buffer, we expect it to come to a normalized level,” it added.
Kotak Bank Q1 Results LIVE: Operational Metrics
Kotak Mahindra Bank’s net interest margin (NIM) – a key measure of profitability – stood at 5.75 percent at the end of March 2023.
Analysts expect its net interest income (NII) — the difference between interest earned and interest paid – to climb 29 percent YoY to Rs 6,057 crore, compared to Rs 4,697 crore in Q1 FY23.
Kotak Bank Q1 Results LIVE: The private sector lender is likely to post a net profit of Rs 3,182 crore
Kotak Mahindra Bank is expected to report a stellar 53 percent YoY growth in net profit for the first quarter of this fiscal year amid healthy disbursals, though sequentially there could be a contraction amid pressure on the margins front, analysts said.
The private sector lender is likely to post a net profit of Rs 3,182 crore, representing a 53 percent jump YoY, as per the average of a poll of estimates of brokerages. However, when compared sequentially, the bank’s Q1 FY24 net profit is projected to contract 9 percent from Rs 3,495.59 crore in Q4 FY23.
ICICI Bank Q1 Results LIVE: Preview
India's second-largest private bank is set to report its Q1FY24 numbers today. A quick look at the preview, here
ICICI Bank Q1 Results LIVE: Stock performance
The shares of the lender have rallied 13.4 percent thus far in financial year 2023-24 (FY24), as against 15 percent rise in the benchmark Nifty50 index and 13.7 percent gain in the Nifty Bank index.
ICICI Bank Q1 Results LIVE: What do analysts expect?
Analysts estimate net interest margin (NIM) to dip 10 basis points sequentially to 4.8 percent from 4.9 percent. In the corresponding quarter of the previous year, NIM stood at four percent.
Net interest income (NII) is also expected to stay muted quarter-on-quarter. Brokerages forecast a drop of up to two percent to Rs 17,571 crore.
ICICI Bank Q1 Results LIVE: Kotak Institutional Equities' preview report
"We expect provisions at Rs 1,701 crore, and expect to see lower recovery/upgrades hereon. We are building slippages of 2.5 percent (around Rs 6,500 crore) as Q1FY24 slippages could be higher from the agriculture portfolio. The key concern would be the reversal of net interest margin (NIM) as cost of funds is starting to move up sharply for the sector, especially with slower current account-savings account (CASA) growth."
Kotak Institutional Equities pegs provisionsat Rs 1,700.8 crore, up five percent QoQ (from Rs 1,619.8 crore) and 49 percent YoY (from Rs 1,143.8 crore).
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